Report: Intesa Sanpaolo considering NPL sale worth up to €2B

IntesaSanpaolo SpA is mulling over a nonperforming loan portfolio salewith a face value of €1 billion to €2 billion, Bloomberg News reported Sept.21, citing "two people with knowledge of the matter."

The lender, which is determining the final size of the debtto be sold and how to package bad loans, could commence the sale process in thefourth quarter and conclude the deal in the beginning of 2017, according to thepeople. However, the plan is not final and could change, the people added.

Intesa Sanpaolo is in the process of selling threeportfolios of NPLs worth a total of €350 million, the people told Bloomberg,adding that such sales, expected to be completed by the end of 2016, would takethe lender's bad loan sales to more than €1.1 billion in 2016.